Dakota Wealth Management Grows Holdings in nVent Electric PLC $NVT

Dakota Wealth Management lifted its stake in nVent Electric PLC (NYSE:NVT) by 70.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,407 shares of the company’s stock after acquiring an additional 4,719 shares during the quarter. Dakota Wealth Management’s holdings in nVent Electric were worth $1,163,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in nVent Electric by 33.1% in the first quarter. AQR Capital Management LLC now owns 94,968 shares of the company’s stock valued at $4,841,000 after purchasing an additional 23,606 shares during the period. Jones Financial Companies Lllp boosted its position in shares of nVent Electric by 575.6% during the first quarter. Jones Financial Companies Lllp now owns 8,803 shares of the company’s stock worth $461,000 after buying an additional 7,500 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of nVent Electric by 436.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,072 shares of the company’s stock valued at $56,000 after buying an additional 872 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of nVent Electric by 2.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,081,899 shares of the company’s stock valued at $79,249,000 after buying an additional 30,267 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in shares of nVent Electric in the 2nd quarter valued at $345,000. Hedge funds and other institutional investors own 90.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NVT shares. Royal Bank Of Canada increased their target price on nVent Electric from $138.00 to $143.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Barclays lifted their target price on nVent Electric from $140.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Citigroup boosted their price target on shares of nVent Electric from $131.00 to $133.00 and gave the stock a “buy” rating in a research note on Monday, February 9th. Wall Street Zen lowered shares of nVent Electric from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings raised shares of nVent Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, March 11th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.50.

nVent Electric Trading Down 0.0%

NVT opened at $116.95 on Monday. The business has a fifty day moving average price of $114.87 and a 200 day moving average price of $107.32. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.63 and a quick ratio of 1.16. nVent Electric PLC has a 12 month low of $41.71 and a 12 month high of $129.94. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 27.20, a PEG ratio of 1.22 and a beta of 1.31.

nVent Electric (NYSE:NVT) last posted its quarterly earnings results on Saturday, February 7th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. nVent Electric had a return on equity of 15.18% and a net margin of 18.25%.The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the company earned $0.59 EPS. nVent Electric’s revenue for the quarter was up 41.9% compared to the same quarter last year. Sell-side analysts expect that nVent Electric PLC will post 3.04 earnings per share for the current fiscal year.

nVent Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 24th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $0.84 annualized dividend and a yield of 0.7%. nVent Electric’s dividend payout ratio (DPR) is 19.53%.

Insider Buying and Selling

In other nVent Electric news, Director Susan M. Cameron sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $114.52, for a total value of $572,600.00. Following the sale, the director directly owned 13,405 shares of the company’s stock, valued at approximately $1,535,140.60. This represents a 27.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Beth Wozniak sold 7,597 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $116.47, for a total transaction of $884,822.59. Following the completion of the sale, the chief executive officer owned 52,990 shares in the company, valued at $6,171,745.30. The trade was a 12.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,841 shares of company stock worth $2,046,166 over the last 90 days. 1.80% of the stock is owned by insiders.

nVent Electric Company Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company’s electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.